Hardware Industry Hot Products and Buyer Procurement Trends

ByRita
Hardware Industry

According to data from the General Administration of Customs of China, in 2023, China’s total import and export volume reached 41.76 trillion yuan, a year-on-year increase of 0.2%, showing a stable and positive trend. At the same time, the export of Chinese hardware tool products has rebounded, and the development of the hardware industry has ushered in a new international trade pattern, bringing new opportunities for Chinese hardware enterprises.

Global Buyer Market Insights for Hardware and Tools

Regional Distribution of Active Buyers:

  • North America: 18.5%
  • Europe: 17.3%
  • India: 14.8%
  • Asia: 11.9%
  • Africa: 9.7%
  • Middle East: 8.2%
  • ASEAN: 8.0%
  • Central and South America: 7.7%
  • Australia and Oceania: 3.9%

From the data, active buyers from North America and Europe are the most, accounting for 18.5% and 17.3% respectively, with a combined share of 35.8%. India and other Asian regions also have a relatively high number of active buyers, accounting for 14.8% and 11.9% respectively. Africa, the Middle East, ASEAN, and Central and South America are also major areas where active buyers of hardware and tools are concentrated.

Hardware Industry

Type Distribution of Active Buyers:

  • Distributors/Retailers/Wholesalers: 29.7%
  • Agents/Trading Companies: 17.8%
  • Importers: 16.5%
  • Manufacturers: 16.5%
  • Others: 8.9%
  • Procurement Offices: 3.8%
  • Consultants: 3.0%
  • Exporters: 2.8%
  • E-commerce: 1.0%

Among these active buyers, those coming to the Chinese market for procurement are mainly Distributors/Retailers/Wholesalers, accounting for 29.7%. Agents/Trading Companies, Importers, and Manufacturers also make up a significant portion, with a combined share of over half, which is a segment that Chinese suppliers cannot ignore.

Hardware Industry

Procurement Amount of Active Buyers:

  • Over 10,000,000 USD: 9.3%
  • 5,000,000-10,000,000 USD: 5.6%
  • 1,000,000-5,000,000 USD: 16.7%
  • 500,000-1,000,000 USD: 13.6%
  • 100,000-500,000 USD: 23.8%
  • Less than 100,000 USD: 30.9%

Buyers of hardware and tools have a characteristic of multiple varieties and small batches. Buyers with procurement amounts less than 500,000 USD account for more than half, reaching 54.7%, among which buyers with procurement amounts less than 1,000,000 USD account for 30.9%. Buyers with procurement amounts over 1,000,000 USD still hold a significant share, accounting for nearly 30%, and those with procurement amounts over 10 million account for nearly 10%.

Hardware Industry

Active Buyer Trends in Hardware and Tools Subcategories:

The hardware and tools industry has eight major subcategories with numerous active buyers, all reaching hundreds of thousands. In addition, subcategories such as mold processing, doors/windows and accessories, and industrial processing products also have tremendous market potential.

Hot Products in Hardware and Tools:
1-10: Power drills; CNC machined parts; HDPE pipes; Toilet paper dispensers; Toilets; Injection molds; Padlocks; Flower pots; Seeds; Drywall screws; 11-20: Screws; Bathroom faucets; Pest control; Metal stamping parts; Wire ropes; Bolt nuts; Bolts; Tool bags; Towel racks; Plastic molds;

Hot Products in Building Materials:
1-10: Aluminum extrusions; Roof tiles; Drywalls; Gabion boxes; Sandwich panels; Stainless steel panels; Copper wire meshes; Particleboards; Rubber extrusions; Gratin; 11-18: Quartz stones; Rebars; Acrylic sheets; Fiber cement boards; Galvanised welded mesh; Roof panels; Glass mosaics; PVC ceiling panels;

Hot Products in Doors, Windows, and Accessories:
1-10: Door hinges; Window extrusion profiles; Door handles; Glass door fittings; Door closers; Garage door parts; Gate openers; Pull handles; Garage door openers; Magnetic contacts; 11-19: Tubular motors; Wireless door chimes; Doorbells; Fire door accessories; Rolling door motors; Sliding door operators; Window film; Window handles; Door catches;

Hardware Industry